HOUSTON, Aug 7 (Reuters) - Oil prices gained on Friday as markets assessed a pending agreement between Iran and Oman that would set rules for transit of the Strait of Hormuz. Brent crude futures were up 93 cents,

According to our “Hormuz dependency dashboard”, Iran could indeed monetise the strait. It would be exceedingly difficult to reroute shipments of refined petroleum products or liquefied natural gas. And many of Iran’s Gulf neighbours depend on the waterway for imports such as food.

Iran's parliament is reviewing a plan to ban ships linked to the U.S., Israel and other "hostile countries" from transiting the Strait of Hormuz. The Trump administration has rejected the plan.

The United Arab Emirates says Iran targeted a tanker belonging to the state-owned Abu Dhabi National Oil Company (ADNOC) while it was transiting the Strait of Hormuz.

There are competing routes through the strait and what’s on the table appears to involve merging them – with Iran retaining a level of control that would be at odds with US wishes.

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Iran’s parliament is reviewing a draft plan to reopen the Strait of Hormuz, according to Fars, an Iranian news site. The proposal reportedly includes banning vessels from America, Israel and “hostile” countries from transiting the waterway,

ADNOC confirms one of its vessels was targeted by a missile while transiting the Strait of Hormuz on August 8 with no injuries reported, situation under control and public urged to rely on official so